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Pension Plan (Tables) | 12 Months Ended
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Feb. 28, 2014
Compensation And Retirement Disclosure [Abstract] |
Company's Pension Plan Asset Allocation, by Asset Category | The Company’s pension plan asset allocation, by asset category, is as follows for the fiscal years ended:
|  | 2014 |  |  | 2013 |
Equity securities |  |  | 56 | % |  |  | 53 | %
Debt securities |  |  | 37 | % |  |  | 39 | %
Cash and cash equivalents |  |  | 7 | % |  |  | 8 | %
Total |  |  | 100 | % |  |  | 100 | %
Company's Target Asset Allocation Percentage, by Asset Class | The Company’s target asset allocation percentage, by asset class, for the year ended February 28, 2014 is as follows:
Asset Class |  | Target Allocation Percentage
Cash |  | 2 - 5%
Fixed Income |  | 43 - 53%
Equity |  | 45 - 55%
Plan's Fair Value Hierarchy for Assets Measured at Fair Value | The following tables present the Plan’s fair value hierarchy for those assets measured at fair value as of February 28, 2014 and 2013 (in thousands):
|  | Assets Measured at Fair Value |  |  | Fair Value Measurements |
Description |  | at 2/28/14 |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
Cash and cash equivalents |  | $ | 3,247 |  |  | $ | 3,247 |  |  | $ | — |  |  | $ | — |
Government bonds |  |  | 10,713 |  |  |  | — |  |  |  | 10,713 |  |  |  | — |
Corporate bonds |  |  | 7,695 |  |  |  | — |  |  |  | 7,695 |  |  |  | — |
Domestic equities |  |  | 21,928 |  |  |  | 21,928 |  |  |  | — |  |  |  | — |
Foreign equities |  |  | 5,841 |  |  |  | 5,841 |  |  |  | — |  |  |  | — |
|  | $ | 49,424 |  |  | $ | 31,016 |  |  | $ | 18,408 |  |  | $ | — |
|  | Assets Measured at Fair Value |  |  | Fair Value Measurements |
Description |  | at 2/28/13 |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
Cash and cash equivalents |  | $ | 3,605 |  |  | $ | 3,605 |  |  | $ | — |  |  | $ | — |
Government bonds |  |  | 9,972 |  |  |  | — |  |  |  | 9,972 |  |  |  | — |
Corporate bonds |  |  | 7,443 |  |  |  | — |  |  |  | 7,443 |  |  |  | — |
Domestic equities |  |  | 20,771 |  |  |  | 20,771 |  |  |  | — |  |  |  | — |
Foreign equities |  |  | 3,183 |  |  |  | 3,183 |  |  |  | — |  |  |  | — |
|  | $ | 44,974 |  |  | $ | 27,559 |  |  | $ | 17,415 |  |  | $ | — |
Summary of Pension Expense Composed of Components Included in Cost of Goods Sold and Selling, General and Administrative Expenses | Pension expense is composed of the following components included in cost of goods sold and selling, general and administrative expenses in the Company’s consolidated statements of earnings for fiscal years ended (in thousands):
|  | 2014 |  |  | 2013 |  |  | 2012 |
Components of net periodic benefit cost |  |  |  |  |  |  |  |  |  |  |  |
Service cost |  | $ | 1,262 |  |  | $ | 1,283 |  |  | $ | 1,214 |
Interest cost |  |  | 2,402 |  |  |  | 2,402 |  |  |  | 2,523 |
Expected return on plan assets |  |  | (3,490 | ) |  |  | (3,208 | ) |  |  | (3,214 | )
Amortization of: |  |  |  |  |  |  |  |  |  |  |  |
Prior service cost |  |  | (145 | ) |  |  | (145 | ) |  |  | (145 | )
Unrecognized net loss |  |  | 2,052 |  |  |  | 1,823 |  |  |  | 1,262 |
Net periodic benefit cost |  |  | 2,081 |  |  |  | 2,155 |  |  |  | 1,640 |
Other changes in Plan Assets and Projected Benefit Obligation Recognized in Other comprehensive Income |  |  |  |  |  |  |  |  |  |  |  |
Net actuarial loss (gain) |  |  | (4,600 | ) |  |  | 4,370 |  |  |  | 7,923 |
Amortization of net actuarial loss |  |  | (2,052 | ) |  |  | (1,823 | ) |  |  | (1,262 | )
Amortization of prior service credit |  |  | 145 |  |  |  | 145 |  |  |  | 145 |
|  |  | (6,507 | ) |  |  | 2,692 |  |  |  | 6,806 |
Total recognized in net periodic pension cost and other comprehensive income |  | ($ | 4,426 | ) |  | $ | 4,847 |  |  | $ | 8,446 |
Schedule of Assumptions Used to Determine Benefit Obligations and Net Periodic Pension Cost | The following table represents the assumptions used to determine benefit obligations and net periodic pension cost for fiscal years ended:
|  | 2014 |  |  | 2013 |  |  | 2012 |
Weighted average discount rate (net periodic pension cost) |  |  | 4.60 | % |  |  | 5.05 | % |  |  | 5.85 | %
Earnings progression (net periodic pension cost) |  |  | 3.00 | % |  |  | 3.00 | % |  |  | 3.00 | %
Expected long-term rate of return on plan assets |  |  | 8.00 | % |  |  | 8.00 | % |  |  | 8.00 | %
Weighted average discount rate (benefit obligations) |  |  | 4.90 | % |  |  | 4.60 | % |  |  | 5.05 | %
Earnings progression (benefit obligations) |  |  | 3.00 | % |  |  | 3.00 | % |  |  | 3.00 | %
Schedule of Accumulated Benefit Obligation, Change in Projected Benefit Obligation, Change in Plan Assets, Funded Status, and Reconciliation to Amounts Recognized in Consolidated Balance Sheets | The accumulated benefit obligation (“ABO”), change in projected benefit obligation (“PBO”), change in plan assets, funded status, and reconciliation to amounts recognized in the consolidated balance sheets are as follows (in thousands):
|  | 2014 |  |  | 2013 |
Change in benefit obligation |  |  |  |  |  |  |  |
Projected benefit obligation at beginning of year |  | $ | 54,315 |  |  | $ | 49,496 |
Service cost |  |  | 1,262 |  |  |  | 1,283 |
Interest cost |  |  | 2,402 |  |  |  | 2,402 |
Actuarial (gain)/loss |  |  | (3,095 | ) |  |  | 3,579 |
Benefits paid |  |  | (3,545 | ) |  |  | (2,445 | )
Projected benefit obligation at end of year |  | $ | 51,339 |  |  | $ | 54,315 |
Change in plan assets: |  |  |  |  |  |  |  |
Fair value of plan assets at beginning of year |  | $ | 44,974 |  |  | $ | 42,002 |
Company contributions |  |  | 3,000 |  |  |  | 3,000 |
Gains on plan assets |  |  | 4,995 |  |  |  | 2,418 |
Benefits paid |  |  | (3,545 | ) |  |  | (2,446 | )
Fair value of plan assets at end of year |  | $ | 49,424 |  |  | $ | 44,974 |
Funded status (benefit obligation less plan assets) |  | ($ | 1,915 | ) |  | $ | (9,341 | )
Accumulated benefit obligation at end of year |  | $ | 46,815 |  |  | $ | 49,791 |
Schedule of Estimated Future Benefit Payments which Reflect Expected Future Service | Estimated future benefit payments which reflect expected future service, as appropriate, are expected to be paid in the fiscal years ended (in thousands):
Year |  | Projected Payments |
2015 |  | $ | 2,700 |
2016 |  |  | 2,900 |
2017 |  |  | 3,200 |
2018 |  |  | 3,300 |
2019 |  |  | 3,400 |
2020 - 2024 |  |  | 13,200 |

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- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of the assumptions used to determine for pension plans and/or other employee benefit plans the benefit obligation and net benefit cost, including assumed discount rates, rate increase in compensation increase, and expected long-term rates of return on plan assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (k) -URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e1928-114920 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e2417-114920 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 55 -Paragraph 17 -URI http://asc.fasb.org/extlink&oid=32704760&loc=d3e4179-114921 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e2439-114920 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e2410-114920 + Details
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- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e1928-114920 + Details
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